House leader cites stimulus package

Manila, Philippines – A House leader expressed optimism that the Aquino government’s P72-billion stimulus package could shield the country from the effects of the global financial unrest that might be worsened by the “Occupy Wall Street” protests that are gripping the world’s financial centers.

Iloilo Rep. Jerry Trenas, chairman of the House Committee on Good Government, described as a “timely intervention” the stimulus package, warning that the growing economic crunch could have ripple effects on the country’s financial market.

“This is worrying. While we do not see or feel the immediate effects of this so-called Occupy Wall Street protests, there is a chance that this unrest which is focused on the global financial system could have ripple effects on our own market. President Aquino’s stimulus plan came in time to shield us from the effects of the global financial unrest,” Trenas said in a statement. (Charissa M. Luci)